ICMarket

Thursday 20th March 2025: Technical Outlook and Review

DXY (US Dollar Index):

Potential Direction: Bullish

Overall momentum of the chart: Bearish

Price could potentially make a bullish bounce off the pivot and rise toward the 1st resistance.

Pivot: 103.34
Supporting reasons: Identified as an overlap support, indicating a potential area where buying interests could pick up to resume the uptrend.

1st support: 102.20
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once again.

1st resistance: 105.29
Supporting reasons: Identified as a pullback resistance that aligns close to the 50% Fibonacci retracement, indicating a potential level that could cap further upward movement.

EUR/USD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

Price could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 1.0951
Supporting reasons: Identified as a multi-swing high resistance, indicating a potential area where selling pressures could intensify.

1st support: 1.0766
Supporting reasons: Identified as a pullback support, indicating a potential area where the price could stabilize once more.

1st resistance: 1.1074
Supporting reasons: Identified as a multi-swing high resistance, indicating a potential area that could halt any further upward movement.

EUR/JPY:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

Price could potentially make a bearish breakout toward the 1st support

Pivot: 162.24
Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify.

1st support: 160.36
Supporting reasons: Identified as an overlap support, indicating a potential area where the price could stabilize once again.

1st resistance: 164.02
Supporting reasons: Identified as a swing high resistance, indicating a potential area that could halt any further upward movement.

EUR/GBP:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

Price is rising towards the pivot and it could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 0.8401
Supporting reasons: Identified as an overlap resistance, indicating a potential area where selling pressures could intensify.

1st support: 0.8356
Supporting reasons: Identified as a pullback support that aligns close to the 50% Fibonacci retracement and the 100% Fibonacci projection, indicating a potential area where the price could stabilize once more.

1st resistance: 0.8444
Supporting reasons: Identified as a swing high resistance, indicating a potential level that could cap further upward movement.

GBP/USD:

Potential Direction: Bearish
Overall momentum of the chart: Bullish

Price could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 1.3046

Supporting reasons: Identified as a multi-swing high resistance that aligns close to the 127.2% Fibonacci extension, indicating a potential area where selling pressures could intensify.

1st support: 1.2808
Supporting reasons: Identified as a pullback support, acting as a potential level where the price could stabilize once again.

1st resistance: 1.3237
Supporting reasons: Identified as an overlap resistance, indicating a potential level that could cap further upward movement.

GBP/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Bullish

Price could potentially make a bullish bounce off this level and rise towards the 1st resistance.

Pivot: 192.76

Supporting reasons: Identified as a pullback support that aligns with the 50% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 19079
Supporting reasons: Identified as a pullback support that aligns with the 61.8% Fibonacci retracement, indicating a potential level where the price could stabilize once more.

1st resistance: 194.69
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

USD/CHF:

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could potentially make a bearish breakout at this level to fall towards the 1st support.

Pivot: 0.8767

Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify

1st support: 0.8723
Supporting reasons: Identified as a support that aligns with the 161.8% Fibonacci extension and the 78.6% Fibonacci projection, indicating a potential level where the price could stabilize once again.

1st resistance: 0.8816
Supporting reasons: Identified as a pullback resistance, indicating a potential level that could cap further upward movement.

USD/JPY:

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price could potentially make a bullish bounce off this level and rise towards the 1st resistance.

Pivot: 148.16

Supporting reasons: Identified as a pullback support that aligns with the 50% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 147.31
Supporting reasons: Identified as a pullback support that aligns close to the 78.6% Fibonacci retracement, suggesting a potential area where the price could stabilize once more.

1st resistance: 150.09
Supporting reasons: Identified as an overlap resistance that aligns close to the 78.6% Fibonacci retracement, indicating a potential level that could cap further upward movement.

USD/CAD:

Potential Direction: Bearish

Overall momentum of the chart: Bullish

PPrice is rising towards the pivot and it could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 1.4361

Supporting reasons: Identified as a pullback resistance, that aligns close to the 50% Fibonacci retracement, indicating a potential area where selling pressures could intensify.

1st support: 1.4237
Supporting reasons: Identified as an overlap support that aligns with the 78.6% Fibonacci retracement, indicating a key level where the price could stabilize once more.

1st resistance: 1.4515
Supporting reasons: Identified as a multi swing-high resistance, indicating a potential area that could halt any further upward movement.

AUD/USD:

Potential Direction: Bullish

Overall momentum of the chart: Bearish

Price could potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 0.6330

Supporting reasons: Identified as a pullback support that aligns with the 50% FIbonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 0.6274

Supporting reasons: Identified as a multi-swing low support, suggesting a potential area where the price could stabilize once again.

1st resistance: 0.6403
Supporting reasons: Identified as a swing high resistance that aligns with the 61.8% Fibonacci projection, indicating a potential area that could halt any further upward movement.

NZD/USD

Potential Direction: Bearish

Overall momentum of the chart: Neutral

Price could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 0.5829

Supporting reasons: Identified as a pullback resistance that aligns close to the 127.2 Fibonacci extension, indicating a potential area where selling pressures could intensify.

1st support: 0.5771

Supporting reasons: Identified as a pullback support, suggesting a potential area where the price could stabilize once more.

1st resistance: 0.5883

Supporting reasons: Identified as an overlap resistance that aligns with  the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

US30 (DJIA):

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 42,198.94

Supporting reasons: Identified as a pullback resistance that aligns with the 61.8% Fibonacci retracement and the 61.8% Fibonacci projection, indicating a potential area where selling pressures could intensify.. 

1st support: 41,416.44

Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once again.

1st resistance: 43,014.27

Supporting reasons: Identified as an overlap resistance, indicating a potential area that could halt any further upward movement.

DE40 (DAX):

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price could fall towards the pivot and potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 22,884.11

Supporting reasons: Identified as a pullback support that aligns close to the 50% Fibonacci retracement, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 22,267.92

Supporting reasons: Identified as a multi swing low support, indicating a key level where the price could stabilize once more.

1st resistance: 23,476.03
Supporting reasons: Identified as a swing-high resistance, indicating a potential area that could halt any further upward movement.

US500 (S&P 500): 

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could rise towards the pivot and potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 5,771.52

Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify. 

1st support: 5,605.36

Supporting reasons: Identified as an overlap support, indicating a potential level where the price could stabilize once again.

1st resistance: 5,921.20

Supporting reasons: Identified as a pullback resistance that aligns close to the 61.8% Fibonacci retracement, indicating a potential area that could halt any further upward movement.

BTC/USD (Bitcoin):

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price could fall towards the pivot and potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 84,556.54

Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 78.021.36
Supporting reasons: Identified as a swing low support, indicating a potential level where the price could stabilize once more.

1st resistance: 89,641.90
Supporting reasons: Identified as a pullback resistance that aligns with the 78.6% Fibonacci retracement and the 100% Fibonacci porjection, indicating a potential area that could halt any further upward movement.

ETH/USD (Ethereum):

Potential Direction: Bullish
Overall momentum of the chart: Bearish

Price could fall towards the pivot and potentially make a bullish bounce off this level to rise towards the 1st resistance.

Pivot: 1,947.37

Supporting reasons: Identified as a pullback support, indicating a potential area where buying interests could pick up to stage a rebound.

1st support: 1,750.14
Supporting reasons: Identified as a swing-low support, indicating a potential level where the price could stabilize once again.

1st resistance: 2,134.32
Supporting reasons: Identified as an overlap resistance that aligns close to the 61.8% Fibonacci retrtacement, indicating a potential area that could halt any further upward movement.

WTI/USD (Oil):

Potential Direction: Bearish
Overall momentum of the chart: Bearish

Price could make a bearish contination toward the 1st support.

Pivot: 68.48

Supporting reasons: Identified as a pullback resistance, indicating a potential area where selling pressures could intensify. 

1st support: 65.59
Supporting reasons: Identified as a multi-swing-low support, indicating a key level where the price could stabilize once more.

1st resistance: 70.37
Supporting reasons: Identified as an overlap resistance that aligns with the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

XAU/USD (GOLD):

Potential Direction: Bearish
Overall momentum of the chart: Bullish
Price could potentially make a bearish reversal off this level to fall towards the 1st support.

Pivot: 3052.78
Supporting reasons: Identified as a swing high resistance that aligns with the 127.2% Fibonacci extension, indicating a potential area where selling pressures could intensify.

1st support: 3021.18
Supporting reasons: Identified as a swing low support, acting as a potential level where price could stabilize once again.

1st resistance: 3061.20
Supporting reasons: Identified as a resistance that aligns with the 161.8% Fibonacci extension, indicating a potential area that could halt any further upward movement.

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